US Census Bureau: Despite sanctions, US imports from Russia ...| MENAFN.COM

Thursday, 01 December 2022 07:14 GMT

US Census Bureau: Despite sanctions, US imports from Russia are increasing


(MENAFN) According to a report issued on Wednesday by the US Census Bureau, US imports from Russia were $522.1 million in August, up 7.7% over the previous month's total of $484.8 million, and the first monthly gain since April.

The expansion comes despite US President Joe Biden's commitment to strike a "crushing blow" to Moscow through commodities trade restrictions.

Analysts believe that the anti-Russia sanctions continue to favor Washington. While urging the EU to stop buying Russian products, the US continues to acquire hundreds of unapproved commodities.

“There is a tacit agreement between the US government and business: we puff our cheeks, and you trade with Russia if it suits you. Their words don’t meet their actions,” Aleksandr Razuvaev, a member of the supervisory council at Moscow’s Guild of Financial Analysts, informed Russian state media on Wednesday.

Meanwhile, US exports to Russia fell by 19% in August, to $66.8 million from $82.5 million in July. Russia imported $58 million in June, down from $77.4 million in May and $89.1 million in April.

According to the report, the US purchased items from Russia worth $12.1 billion from January to August, while exports were just $1.3 billion.

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